It’s a pretty bad bug, and to have it at launch of the OLED too really stinks. If you are using and LCD model you should be able to roll back to before 3.5 and for anyone with an OLED model we are stuck with it since we need 3.5 or newer for this model.
I hope Valve are treating this as a priority, but it does make me worry slightly since the reading up I have done on this is showing that the big has been present for quite some time in preview / beta.
Somehow I never heard about the bug before 3.5 released to Stable, and I used it on Preview for months. Valve may not have realized the scope of the problem until it reached Stable.
We got a few comments on the GitHub page about this from Nephyrin, a Valve developer, but not a definite “we’re working on this.”
There’s active discussion on the Steam forums, too, but still no Valve response and there’s a lot of argumentative back-and-forth among users. The problem is that it doesn’t occur on all units.
My guess? Valve is working on this, but they haven’t found any reliable way to re-create the bug, which is the first step in debugging. They’re staying silent because saying “We have been unable to reliably reproduce the issue” will confuse users into thinking they’re denying the problem, but saying “We’re working on it” will mislead users into believing that a fix is right around the corner.
The workaround for the time being is to manually set the GPU clock. I know, it sucks. I wish I could offer better advice, but I haven’t run across any and I can’t troubleshoot it myself because I haven’t encountered the issue.